State’s Activity Up 84 Percent From Year Ago
IRVINE, Calif. – August 31, 2006 – Delaware reported 35 properties entering some stage of the foreclosure process in August, a 49 percent decline in activity from the 69 properties reported in July, but an 84 percent increase from the 19 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.
“After reaching a peak in June, Delaware foreclosures are shrinking back down to the low numbers experienced during the first quarter of this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “With job growth outpacing most of the nation, and a large population migration into the state, it is no surprise that Delaware consistently holds one of the lowest foreclosure rates in the country.”
Delaware ranked 46th in the nation for foreclosure activity during August. The state’s foreclosure rate of one new foreclosure filing for every 9,802 households — 10 percent of the national average — ranks it 43rd among the 50 states.
Kent County responsible for largest share of state total
Kent County accounted for 51 percent of all foreclosures in Delaware for August, reporting 18 properties entering some stage of the foreclosure process. Sussex County had the second highest total, reporting nine properties entering some stage of the foreclosure process, followed by New Castle County where eight properties entered some stage of the foreclosure process.
Highest foreclosure rate reported in Kent County
Kent County also posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 2,805 households — 3.5 times the state average. Sussex County had the second highest foreclosure rate, reporting one new foreclosure filing for every 10,341 households.
State has minor impact on national total
Delaware‘s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 households during the month.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).
Delaware Foreclosure Market by County – August 2006
1 in every # households
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.
Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.
Atomic Public Relations